Today, we took the first step in taking legal action against Shell`s board, trying to hold them accountable for not properly preparing for the energy transition. In 2021, a Dutch court ordered Shell to reduce its total emissions – including those from fossil fuel products it sells – by a net 45% by the end of 2030. However, the Commission has since rejected parts of the judgment, stressing that it was inappropriate and substantially incompatible with its commercial activities. The company appealed the court`s decision. This is the first time a company has been legally required to align its policies with the Paris Climate Agreement, according to Friends of the Earth (FoE). This news release contains forward-looking statements (within the meaning of the United States). Private Securities Litigation Reform Act of 1995) on Shell`s financial condition, results of operations and operations. All statements that are not historical facts are or may be considered forward-looking statements. Forward-looking statements are statements regarding future expectations that are based on management`s current expectations and assumptions and involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those expressed or implied by such statements. Forward-looking statements include, but are not limited to, statements regarding Shell`s potential exposure to market risk and statements that express management`s expectations, beliefs, estimates, forecasts, projections and assumptions.

These forward-looking statements are identified by the use of words and phrases such as «goal», «ambition», «anticipate», «believe», «could», «estimate», «expect», «objectives», «intend», «may», «milestones», «objectives», «outlook», «plan», «likely», «project», «risks», «schedule», «should», «objectives», «will» and similar words and expressions. There is no guarantee that future dividend payments will be equal to or greater than previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that could affect future results are disclosed in Royal Dutch Shell plc`s Form 20-F on Form 20-F filed on May 31, 2020-F. (available www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify the forward-looking statements contained in this press release and should be considered by the reader. Any forward-looking statements speak only as of the date of this press release, which is July 20, 2021. Neither Royal Dutch Shell plc nor any of its subsidiaries undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Given these risks, results may differ materially from the forward-looking statements expressed, implied or implied by this press release. We argue that the board`s failure to properly manage climate risks for Shell means it is in breach of its legal obligations. The Board failed to adopt and implement a climate strategy that is truly consistent with the Paris Agreement`s goal of keeping global temperature rise below 1.5°C by 2050.

We believe that the board is in breach of its obligations under sections 172 and 174 of the UK Companies Act, which require it by law to act in a manner that promotes the success of the company and to exercise due care, skill and diligence. A Shell spokesperson said they «expect to appeal today`s disappointing court decision», adding that they are stepping up efforts to reduce emissions. The legally binding agreement entered into force on 4 November 2016. The U.S. withdrew under former President Donald Trump, but has since joined under President Joe Biden. Companies in which Royal Dutch Shell plc has a direct and indirect stake are separate legal entities. In this press release, «Shell», «Shell Group» and «Group» are sometimes used for simplicity when referring to Royal Dutch Shell plc and its subsidiaries in general. Similarly, the words «we», «us» and «our» are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or those who work for them. These terms are also used when the identification of the particular entity or entities is not useful for a useful purpose.

The terms «Subsidiaries», «Shell Subsidiaries» and «Shell Companies» as used in this press release refer to companies over which Royal Dutch Shell plc has direct or indirect control. Unincorporated companies and agreements over which Shell has joint control are generally referred to as «joint ventures» or «joint ventures». Companies over which Shell has significant influence, but which have no joint or controlling control, are referred to as `associated undertakings`. The term «Shell participation» is used for simplicity to indicate Shell`s direct and/or indirect participation in an unincorporated company or partnership after all third party interests have been excluded. Are you an investor in Shell? Find out what this means for you: www.redirectingshell.com «The decision holds Shell accountable for reducing its customers` emissions from the use of its products,» he said. We wonder how Shell can have a legal obligation to reduce carbon emissions that we do not control, from customers who are not subject to a similar legal obligation to reduce their emissions. In December, defense lawyers told the Dutch court that the company was already taking «serious steps» to move away from fossil fuels, saying there was no legal basis for the case. The decision comes after scientists said most known reserves of fossil fuels must be left in the ground to avoid the worst effects of climate change. Although the decision only applies to the Netherlands, it could have wider implications elsewhere.

The BBC`s correspondent in the Netherlands, Anna Holligan, tweeted that it was a «previous decision». Climate activists have won a major legal victory against oil giant Royal Dutch Shell. A Dutch court ruled on Wednesday that the company must reduce its greenhouse gas emissions by 45% by 2030, based on 2019 levels. This month, the U.S. Supreme Court sided with the big oil companies in a climate change lawsuit filed by the city of Baltimore. The judges gave the oil giants a victory on a technical issue — that the case should be heard in federal court rather than state court, as the city preferred. There are about a dozen similar lawsuits filed by U.S. states and local governments.

Shell said at the time of the verdict that it would appeal. In a LinkedIn post, Marjan van Loon, Shell`s Dutch chairman, said the appeal was filed on March 22. Royal Dutch Shell is based in The Hague, where the case was heard. Shell can still appeal the decision, which the company expects. The Dutch judge said the more ambitious target for the company will remain in place during the appeal process. Global Media Relations International: +44 207 934 5550 Americas: +1 832 337 4355 Shell has stated its intention to reduce both emissions from its own operations, known as Scopes 1 and 2, and emissions generated when customers use the energy products it sells. These Scope 3 emissions account for more than 90% of Shell`s emissions, which is why Shell is working with its customers to achieve this reduction. Our standards: Thomson Reuters Trust Principles. Other major oil companies are also making changes in the context of a greater global focus on reducing emissions. But its intermediate goals to get there simply don`t add up. Analyst research last year suggested that far from a 45% reduction, Shell`s strategy would actually lead to a 4% increase in net emissions by 2030 and that the company would likely not even meet its own targets.

The content of the websites mentioned in this announcement is not part of this press release. Water. From. Joy. 🚨WE WON! 🚨The Dutch court has just ruled that Shell must reduce its CO2 emissions by 45% by 2030 (compared to 2019). The climate battle is huge, but we know we can win this thing, beat the fossil fuel companies, and build a better world.